Why Marketing Matters

By Dean Barber, The Rising Tide

"Because the purpose of business is to create a customer, the business enterprise has two--and only two--basic functions: marketing and innovation . . . Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business." -- Peter Drucker

I tell my economic development friends the purpose of their non-profit organizations is not so very different from businesses other than the profit motive.

If you want your economic development organization to truly leave its mark on your community and change lives, marketing is essential.

In short, you want your incumbent businesses as well as potential investors from outside the community to know what you can do for them, how you can help.

I don't believe you do that by making outlandish statements that your community is the "perfect place" for all businesses. In fact, it is not. In heaven, there is no beer.

But through marketing, you can show that your community is a better place, a better fit for some businesses. I think consistent storytelling plays a huge role in doing that.

I like to say, and it's quite rudimentary, that the best stories are the ones that we remember. I'm sure those stories are out in every community just waiting to be told.

An analysis of LinkedIn’s internal data shows digital marketing and social media jobs are in high demand. Half of the top 10 jobs posted on LinkedIn are in the digital or media space.

As the pandemic accelerated our industry’s shift to virtual everything, it also accelerated the demand for marketers in digital roles. Digital marketing specialists are most in-demand, while the media coordinator role is experiencing the fastest growth.

My general advice would be for EDOs to place a premium on hiring digital talent that can up your game in marketing your respective communities.

Source Credit: https://www.barberadvisors.com/so/9cNyDnODe?languageTag=en&cid=0dd20fe6-aa8a-42db-903d-b667108e33a8#/main